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FOR IMMEDIATE RELEASE
Alogent Enhances Offering for Banks’ Small Business Customers, as the New Vanguard for Distributed Capture
--- Sierra Xpedite Remote Deposit Automation to Feature Deployment, Additional Capabilities ---
Association for Financial Professionals (AFP) Annual Conference Booth 407-408
BOSTON--(BUSINESS WIRE)--Alogent Corp., a leading provider of enterprise deposit
automation technologies for global financial institutions and processors, today
announced its enhanced focus on small business in response to the market’s
evolving demand for remote deposit capture. As a pioneer in deposit automation,
with more than a decade of product development and implementation experience,
Alogent is helping banks develop their small business banking customer base as
the new frontier in distributed capture deployment.
“The missing link to superior banking customer service for small businesses
has been the ability to extend real-time, self-serve capabilities to the
desktop. Doing so simplifies the workflow inside the office walls and eliminates
the need to physically leave the office to make a deposit,” said Paul J.
Citarella, executive vice president at Alogent. “By introducing an offering
focused on small business, financial institutions can gain entry to this huge
opportunity of more than 24 million small business banking customers in the
United States,” he said.
Since Check 21 went into effect in October 2004, most small businesses have
not been exposed to its benefits. Remote deposit capture, one of several
technologies born in the post-Check 21 era, now allows the nation’s businesses
to automate more cumbersome traditional deposit processes, saving time and
reducing costs.
Alogent’s Sierra Xpedite® Remote Deposit Automation™ solution offers key
features that enable financial institutions to extend these benefits to smaller
businesses. These include:
- A simple, web-based user interface and intuitive
workflow that requires virtually no end user training
- Real-time capabilities such as image quality analysis
(IQA), duplicate detection and verification of deposit
- Ease of deployment, managed entirely by Alogent,
using a service oriented architecture (SOA) infrastructure
- Enhanced, integrated security standards
- Sierra Deposit Portal™, a customizable interface that facilitates
additional reporting capabilities
In addition, Alogent has now integrated its remote deposit automation
solution with lower-cost scanning devices from vendors including Unisys, RDM,
Digital Check and Panini.
Without remote deposit capabilities, small businesses expend time, effort,
and costs to prepare and process bank deposits, and to post them to A/R systems.
The capture and storage of payment information, including receipts, purchase
orders, checks, and payment coupons further consume time and resources. As with
any manual process, a margin of error is inherent; the corresponding measures to
resolve errors are time consuming, adding even more cost and inconvenience to
the bottom line. Finally, traditional deposit methods call for regular trips to
the local branch to conduct in-person deposit transactions. In addition to the
hard-dollar costs and time involved in doing so, the small business may incur
opportunity cost due to the resulting absence from the workplace.
According to BAI’s Small Business Payments 2006 research report, small
businesses display strong demand for integrated payment and business management
tools. Close to 10% of small businesses and SOHOS (small office/home offices) in
the manufacturing, wholesale and retail sectors are already using RDC or have
concrete plans to begin using it by the end of 2007.
Alogent is demonstrating Sierra Xpedite Deposit Automation solutions,
including its next-generation remote deposit features for small business, at
booth numbers 407 and 408 at AFP’s Annual Conference in Boston this week.
About ProfitStars
ProfitStars, a division of Jack Henry & Associates, Inc., provides
best-of-breed solutions that improve the performance of financial institutions
of all asset sizes and charters, and diverse corporate entities. These solutions
facilitate revenue and growth, risk mitigation and control, and cost control and
complement virtually any core information processing platform. Additional
information is available at http://www.profitstars.com.
About Jack Henry & Associates
Jack Henry & Associates, Inc. is a leading provider of computer systems
and ATM/debit card/ACH transaction processing services primarily for financial
services organizations. Its technology solutions serve more than 9,800 customers
nationwide, and are marketed and supported through three primary brands. Jack
Henry Banking supports banks ranging from de novo to mid-tier institutions with
information and transaction processing solutions. Symitar is the leading
provider of information and transaction processing solutions for credit unions
of all sizes. ProfitStars provides highly specialized products and services that
enable financial institutions of every asset size and charter, and diverse
corporate entities to mitigate and control risks, optimize revenue and growth
opportunities, and contain costs. Additional information is available at www.jackhenry.com.
Statements made in this news release that are not historical facts are
forward-looking information. Actual results may differ materially from those
projected in any forward-looking information. Specifically, there are a number
of important factors that could cause actual results to differ materially from
those anticipated by any forward-looking information. Additional information on
these and other factors, which could affect the company's financial results, are
included in its Securities and Exchange Commission (SEC) filings on Form 10-K,
and potential investors should review these statements. Finally, there may be
other factors not mentioned above or included in the company's SEC filings that
may cause actual results to differ materially from any forward-looking
information.
SOURCE Jack Henry & Associates, Inc. http://www.jackhenry.com

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